With movement in the Suez Canal constituting about 10% of global maritime trade and hundreds of ships standing idle on the northern and southern ends, time is of the essence.
It has now been four days since Ever Given, the 400-metre long container got stuck between banks of the Suez Canal.
The Ever Given's technical mangers, Bernhard Schulte Shipmanagement, said another attempt to refloat the vessel on Friday was not successful, and that the salvage operation was now focused on removing sand and mud from around the port (left) side of the vessel's bow.
Retired British Royal Navy commander Tom Sharpe said the best bet for the next attempt would be a high tide on Sunday, but because the ship was aground both front and rear there was a risk the hull could rupture if rescuers pulled too hard.
"We are continuing work to remove sediment as of now, with additional dredging tools", Higaki said.
"We cannot say that we have not been affected when it comes to the revenues because the other vessels already awaiting in the canal", Rabie said, adding that offloading the containers is the third scenario that could be conducted to refloat the ship.
Earlier, a Dutch firm tasked with moving the Ever Given said it could be freed by next week if a combination of heavier tugboats, dredging and a high tide proves successful. The official spoke on condition of anonymity because he was not authorized to brief journalists. Egyptian authorities have prohibited media access to the site.
Three shipping agents said on Saturday that none of the ships waiting at the canal's entrances had yet requested to be rerouted. He said the head of the canal authority, Lt. Gen. Osama Rabei, would hold a news conference Saturday in the city of Suez to share more details of the operation.
Shoei Kisen Kaisha acknowledged the company's fault in a statement on Thursday that the incident is "extremely difficult" to solve and assured that they would do their best to dislodge the ship.
White House press secretary Jen Psaki told reporters Friday that the USA could "see some potential impacts on energy markets from the role of the Suez Canal as a key bidirectional transit route for oil". "We have equipment and capacity that most countries don't have and we're seeing what we can do and what help we can be", President Joe Biden told reporters Friday. GAC, a global shipping and logistics company, had previously said the ship had experienced a power blackout, but it did not elaborate. It also had "two pilots from Egypt's canal authority aboard the vessel to guide it when the grounding happened around 7:45 a.m. Tuesday", according to the AP.
In 1937, the United Kingdom -bound ship Viceroy of India ran aground, causing a holdup for its 700 passengers and the vessels behind it.
The canal is one of the most important trade passages in the world, and any prolonged blockage could result in massive consequences for the global supply chain. The closure also could affect oil and gas shipments to Europe from the Middle East.
It's estimated the blockage may take longer than expected to clear, with a possibility the process could take weeks amid bad weather.
In addition to oil, Gold noted that a myriad of other goods float through the canal every day - including apparel, footwear, accessories and home goods.
The list included the Ever Given's sister ship, the Ever Greet, which was traveling from Malaysia to Europe and was diverted by either its Japanese owner or its Taiwan-based operating firm toward the Cape of Good Hope, according to satellite data.